What is CIBC doing to combat credit card fraud?
While a CIBC credit card is generally a secure payment method, credit card fraud can still occur. As a VISA member, CIBC is committed to helping protect our clients from credit card fraud. We continue to make a significant investment in security networks and in training experts who are constantly monitoring and investigating suspicious incidents as they relate to credit card usage. In many cases, CIBC is able to proactively identify unusual transactions that could indicate fraudulent activities on a credit card. For instance, CIBC may request a merchant to call us for verification that it is you, the legitimate cardholder, conducting the transaction. We are also investing in long-term solutions to make credit cards more secure. We continue to work with VISA and other Canadian Financial Institutions to establish and evaluate standards that will allow credit card issuers to move to a more secure computer chip technology for credit card transactions (replacing the current magnetic stripe
